NDIS Criterion
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  | 

Henry Review Considers Tax Concessions for NFPs


Monday, 19th January 2009 at 2:11 pm
Staff Reporter
The Australia's Future Tax System Review Panel (known as the Henry Review) has released its consultation paper which considers the main tax concessions available to Not for Profit organisations.

Monday, 19th January 2009
at 2:11 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Henry Review Considers Tax Concessions for NFPs
Monday, 19th January 2009 at 2:11 pm

The Australia’s Future Tax System Review Panel (known as the Henry Review) has released its consultation paper which considers the main tax concessions available to Not for Profit organisations.

The Treasury paper outlines the submissions already provided to the review and discusses some of the main issues and further questions.

Submissions already provided in relation to NFP organisations include:
– expression of concern over NFPs establishing business ventures unrelated to their philanthropic activities
– extension of the mutuality principle to provide a complete tax exemption for member-based organisations
– the appropriateness of the current fringe benefits tax concessions available to NFP organisations, and
– concern that gift deductibility arrangements impose compliance costs on individuals and the rewards for giving vary according to the contributor’s marginal tax rate.

The consultation paper identifies the following questions, relevant to NFP organisations, on which the panel is seeking further community input:
1. What is the appropriate tax treatment for NFP organisations, including compliance obligations?
2. Given the impact of the tax concessions for NFP organisations on competition, compliance costs and equity, would alternative arrangements (such as the provision of direct funding) be a more efficient way of assisting these organisations to further their philanthropic and community-based activities?

Submissions can be made at any time up until Friday 1 May 2009.

The consultation paper and other information about the review is available on Australia’s Future Tax System website at www.taxreview.treasury.gov.au



FEATURED SUPPLIERS


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

Yes we’re lawyers, but we do a lot more....

Moores

...


Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

More Suppliers

Tags : Taxation,

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Court Decision Points the Way to DGR Category Simplification

Lina Caneva

Tuesday, 24th June 2014 at 11:00 am

NDIS Levy Confirmed

Staff Reporter

Tuesday, 30th April 2013 at 10:44 am

Charity Regulator to Clash with State Regulators

Staff Reporter

Tuesday, 31st July 2012 at 12:16 pm

New Amendment Shores Up NFP Payroll Tax Loophole

Staff Reporter

Wednesday, 25th July 2012 at 2:52 pm

POPULAR

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Donors Looking for a Personalised Experience to Give More – Study

Lina Caneva

Wednesday, 8th November 2017 at 1:43 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


NDIS Criterion
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!